Karachi: The KSE-100 index experienced a substantial decline, losing 3,668 points to settle at 157,871, according to a technical outlook report by JS Global. The index's volumes increased to 836 million shares from 783 million previously. The index has dipped below the 50-day moving average (DMA), which now acts as a resistance at 160,889. A further decline below 157,766 could push the index towards its recent low of 156,328. The Relative Strength Index (RSI) and the Stochastic Oscillator are both on a downward trend, indicating a negative outlook.

The report advises investors to exercise caution at the current level, highlighting the support and resistance levels at 156,585 and 160,336, respectively.

In other market insights, Sui Northern Gas Pipelines Limited (SNGP) has found support at the 200-DMA. The strategy suggested is to 'buy on dips,' with target prices of Rs120.64 and Rs124.13, and a stop-loss set at Rs115.00.

For Attock Refinery Limited (ATRL), moving averages are expected to limit downside risks. The recommended strategy is also to 'buy on dips,' targeting Rs689.29 and Rs707.57, with a stop-loss at Rs669.66.